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Futures continue to be underpinned.....>

AUSSIE BONDS
AUSSIE BONDS: Futures continue to be underpinned by a ratcheting up in trade war
matters over the weekend, operating in a tight range, at/just above SYCOM highs
in early dealing this week.
- A softer basket bond auction did little to alleviate the bid, despite some
modest sell side flow being registered in the 3-Year space shortly after the
results hit.
- The domestic 3-/10-Year cash yield differential trades ~0.5bp flatter at
~58.5bp last, while the AU/U.S. 10-Year yield spread sits at ~-40.5bp, with AU
paper lagging Tsys' move from Friday.
- Bills trade unchanged to 2 ticks higher through the whites & reds, while
3-Month BBSW fixed 0.1bp lower today. Volume has been subdued.
- Focus on broader risk tones ahead of RBA minutes & RBA Gov. Lowe speech
tomorrow.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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